Sir James Dyson says Labour 'killing off family businesses' with inheritance tax

Billionaire inventor Sir James Dyson has taken a swipe at the Government for “eviscerating” UK family businesses with the inheritance tax measures announced in last week’s Budget.

The businessman, whose company employs thousands of people at its base in Malmesbury in Wiltshire, warned that small firms and start-ups will “suffer”, while private equity and public companies escape the taxation.

Chancellor Rachel Reeves used her first Budget to make changes to inheritance tax, including reducing reliefs for agricultural and business property from April 2026 in a bid to raise more